Tyler notes Federal Reserve PhD elitist Kartik Athreya's research on bankruptcy law (he's the guy who writes non-PhDs make econ debates less fruitful). Then, as the 'other side', suggests blogger and non-PhD Megan McArdle. Equivalence implied.
What makes this all so harsh is I'm sure it was unintended. Kind a like when a boss says of a valued employee on her retirement, that she was the 'best secretary he's ever had', when she thought she was an analyst.
Tyler has cited McArdle on his blog almost a thousand times more than Athreya. Not sure I am a buyer (and I usually am).
I just ran across another paper that links status seeking behavior to asset prices. Thought you might be interested. HT:econjobrumors of all places.
Eric, love your blog. But you are wrong here. Tyler is a smart dude, that was definitely intended.
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